After posting the adjusting entries,the balance of the depreciation expense account should agree with the amount shown on the income statement.

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Quizplus · Accepted Answer

This is true. Adjusting entries are made to ensure that the accounts on the financial statements are accurate and up-to-date. Depreciation expense is one such account that may require an adjusting entry, and once made, the balance of this account should match the amount shown on the income statement.

After Posting the Adjusting Entries,the Balance of the Depreciation Expense